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Government Introduces Legislation to Create Jobs and COVID-19 Support
On November 24, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, introduced Bill C-2 in Parliament to implement the recently announced measures created to promote jobs and growth.
This bill would:
Extend the Canada Recovery Hiring Program until May 7, 2022, for eligible employers;
Extend the Canada Recovery Caregiving Benefit and the Canada Recovery Sickness Benefit until May 7, 2022;
Deliver targeted support to businesses through three streams:
Tourism and Hospitality Recovery Program, which would provide support through wage and rent subsidies to, for example, hotels, tour operators, travel agencies, and restaurants, with a subsidy rate of up to 75%. The types of business that would be eligible are detailed in the proposed legislation and in the backgrounder associated with today’s announcement.
Hardest-Hit Business Recovery Program, which would provide support through wage and rent subsidies to other businesses that have faced deep losses, with a subsidy rate of up to 50%.
Local Lockdown Program, which would provide businesses that face temporary new local lockdowns up to the maximum amount available through the wage and rent subsidy programs.